Commerzbank's first quarter stronger than expected, shares lead gainers

FRANKFURT (Reuters) - Commerzbank (CBKG.DE) on Tuesday reported a smaller-than-expected fall in first-quarter pretax profit and said it had accrued money to resume dividend payments this year, sending shares in Germany’s No. lender up almost 4 percent.

The lender, still partly owned by the government, is restructuring while struggling amid weak markets and slow loan demand.

It reported pretax profit down 12 percent to 289 million euros ($345 million) but topped the 276 million forecasts by analysts.

Commerzbank shares rose 3.9 percent in early trading, making them the best performers among German bluechips .GDAXI.